Who Will Madoff Take Down With Him
RBS have revealed that if the value of Madoff's Fund's fall to zero, its loss would amount to $600 Million. RBS revealed its story and told his investment were made into the Hedge Fund managed by Madoff. The Madoff Fraud would become the biggest ever case of its kind. The hedge fund, has relatively made damages worth $50 Billion, Mr. Madoff was the former Chairman of NASDAQ Stock Market.
So who is going down with Madoff, Here is a list:
Access International Advisors, has revealed that some of its funds had been invested with Bernard Madoff. The investment firm is working with its counsels to assess the situation. They were quoted as saying, "a shocking development".
Banco Santander, a company based in Spain and owns Abbey and Alliance And Leicester, told that they had invested $2.9 Billion of the clients money in Madoff's Hedge Fund.
BNP Paribas, the largest bank in France, said it could face a threat of $467 Million. They said if Madoff went down, the loss would be almost this amount.
HSBC, its been reported that he has a exposure of $1 Billion from which the clients money have been invested for around $500 Million, which could be a total loss for the firm.
Man Group, has said that its firm funds business had directly or indirectly invested in two funds linked to Bernard Madoff Securities, which acted as a Broker/Dealer executing the investment strategy. They had approximately invested $360 Million.
Neue Privat Bank, a bank based in Zurich, has revealed that its clients would lose as much as $5 Million as a fund which it was managing had invested in the fund linked to Bernard Madoff.
Nomura Holdings, Japan's largest brokerage, said it has $302 Million at risk linked to Bernard Madoff's investment funds.
Royal Bank Of Scotland, were the latest to release the victim of the Fraud. They could face a potential loss of $600 Million.
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